SWEAT. EQUITY by qcq15579


									   SWEAT. EQUITY.

    The Robert H. and Beverly A. Deming Center for Entrepreneurship
    University of Colorado at Boulder

    Leeds School of Business

    The future and its possibilities have always attracted certain
    kinds of people. All it takes for some is a glimpse of the future,
    with only a few of the pieces filled in. Others realize they don’t
    fit the mold long before they spot the right business idea. Still
    others decide they don’t want to run their own companies and
    yet they’re passionate about being agents of change. These
    pioneers are entrepreneurs. And for more than 20 years,
    they’ve come to the University of Colorado’s Leeds School of
    Business to study entrepreneurship.

The Deming Center                                                                                    Developing the Intellectual Framework
The Deming Center’s mission is to serve students with a passion for entrepreneurship—students        The Deming Center—thought leader-
who dream of someday starting their own business, who want to learn about and experience the
                                                                                                     ship in entrepreneurship:
entrepreneurial mindset, and who wish to apply the skills and creativity of entrepreneurship in
any organization. The students will start with a rich academic program led by thought leaders in
entrepreneurship. They’ll develop the intellectual framework necessary for successful entre-         •	 One	of	the	first	integrated	entrepreneurship	
preneurial decision making. The classroom experience is enhanced by a beyond-the-classroom             curricula
experience that provides relevant, hands-on learning.                                                •	 One	of	the	first	and	highest	ranked	entre-
                                                                                                       preneurship	Ph.D.	programs
Then there’s the Deming Network. Boulder is characterized by a thriving entrepreneurial spirit
and pride in the enthusiasm and openness with which experienced entrepreneurs serve to help          •	 Web-based	Business	Plan	template,		
new entrepreneurs create new businesses. An amazingly diverse community of thousands of                used	worldwide
entrepreneurs, supported by venture capitalists; professional advisors and service firms; incuba-
                                                                                                     •	 Top-selling	Entrepreneurial	Finance	text-
tors; and networking organizations creates an entrepreneurial ecosystem that is supportive of and
engaged with the Deming Center. We call that the Deming Network. Many of the most success-             book,	by	Professors	Leach	and	Melicher
ful serial entrepreneurs are available to students to offer insights, mentoring, and opportunities   •	 Sustainable	Venturing	course,	first	taught		
for projects and internships. With their help and the experiences fostered by the Deming Center,       in	2001
you will develop a network of contacts that you will call upon and leverage the rest of your life.
                                                                                                     •	 Creativity	and	Innovation	course,	first	
Finally, at the Deming Center, you have an opportunity to be among the pioneers exploring the          taught	in	2004
future of entrepreneurship: sustainable venturing. More than just “greentech” or “cleantech,”
                                                                                                     •	 Renewable	Energy	Initiative,	established		
sustainable venturing is about harnessing the knowledge, power, and passion of entrepreneurs to
                                                                                                       in	2006
create a new generation of businesses that strengthen rather than deplete the environmental and
economic resources of our planet.                                                                    •	 Academy	of	Management	Best	Dissertation	
                                                                                                       Award	winners
Developing the Intellectual Framework
Every successful entrepreneur masters the basics—some in the classroom; others in the school
of hard knocks. At the Deming Center, you get a head start, building a strong foundation in
accounting, finance, management, marketing, operations, and systems. And you’ll study each
of these subjects in the context of entrepreneurial decision making. Think classes like Bootstrap
Tactics for Entrepreneurs, Entrepreneurial Environments, Business Plan Preparation and Execu-
tion, Entrepreneurial Finance, Entrepreneurial Strategies for Emerging Markets, and Sustainable
Business Venturing, all taught by a world-class faculty. These thought leaders boast a diverse set
of academic accomplishments, with many having substantial business management and success-
ful entrepreneurial backgrounds. Faculty members of the Leeds School have been recognized for
their leadership and innovation in the field of entrepreneurship education. Additionally, numer-
ous leading entrepreneurship educators are graduates of our Ph.D. program and have gone on to
become faculty members in universities throughout the nation.

    Relevant, Hands-On Learning
    Some people read and comprehend. Others learn by doing. The most meaningful education
    offers a thoughtful combination of both. The Deming Center complements its classroom expe-
    rience with hands-on opportunities that place classroom learning in a real-world context.

    Learn from the Best                              Internal Business Plan Competitions              Venture Capital Investment Competition
    Local, regional, and national entrepreneurs;     For entrepreneurs, the only way to measure       This unique event emulates the challenges
    venture capitalists; and other business lead-    success is by putting their ideas to the test.   of the venture capital (VC) world. The
    ers come to campus each year to share their      The Leeds Business Plan Competition              “VCIC Experience” includes a wide variety
    experiences and interact with students. These    challenges students to generate an innova-       of challenges addressed by three elite groups:
    are unique opportunities for students to gain    tive concept for a product or service and to     top MBA students, visionary entrepreneurs,
    perspective, ask questions, and learn first-     design a comprehensive business plan around      and successful VCs, all of whom have much
    hand about proven strategies for success.        it. In the competition, student teams pitch      to learn from the others. Local venture
                                                     their best work before a panel of business       capitalists and Leeds finance faculty have
    Internships and Projects                         community leaders and venture capitalists as     coached and mentored Leeds teams to first
    Nearly 100 percent of interested MBA candi-      the culmination of the Business Plan Prepa-      place in VCIC regional competitions, which
    dates at Leeds are placed in the summer          ration course.                                   advanced them to the VCIC international
    entrepreneurship internship program. The                                                          finals, resulting in top-ranked finishes.
    internship program offers a wide variety of      External Business Plan Competitions
    experiences, from emerging technology ven-       Teams that participate in the Leeds inter-
    tures to international business opportunities.   nal business plan competitions may choose
    The MBA Entrepreneurship Summer Intern           to enter regional, national, or international
    Program is designed for first-year MBA           competitions. Deming Center teams have
    students who have a genuine interest in new      successfully competed at MOOT CORP,
    enterprises and emerging growth companies.       the Big XII New Venture Championship,
    Internships provide students with the oppor-     Rice University Alliance, Global Social
    tunity to test and evaluate career goals while   Venture Competition, University of Or-
    contributing to the bottom line of the intern    egon New Venture Championship, the San
    host company.                                    Diego State University Venture Challenge,
                                                     and the Deming Center’s own Cleantech
                                                     Venture Challenge.

“I’d started a couple of businesses before
 going back for my MBA—so knew my
 weakness. I opted for lots of [classes in] fi-
 nance. My toughest class by far was Chris
 Leach’s Entrepreneurial Finance.”

“For the capstone project, we were given
 72 hours and very limited information on
 a company. We had to do a valuation and
 recommend several funding scenarios.
 To pass, you had to really understand the
 material. That understanding has saved
 me money and equity as I’ve raised capital
 for Mad Greens.”

“Another of my classes spent the day with
 a local Boulder entrepreneur and his CFO
 working through various funding options
 for their rapidly expanding chain of fast,
 casual restaurants. Talk about a real-world

 Marley Hodgson
 MBA, 2003
 CEO and cofounder, Mad Greens

                                                  Lucas Clarke
                                                  Marketing Director, Mad Greens

    “I started Nutballz, Inc., during my junior
     year at CU and sold it three years later.
     One reason for the company’s success
     was Frank Moyes’ business plan class.
     Having all those people with their mix of
     skills and interests focused on my busi-
     ness helped me to think things through in
     a very different way.”

    “And the contacts I made through the
     Deming Center were instrumental in con-
     necting me to some of the pioneers in
     Boulder’s natural food community. People
     who not only provided inspiration—but
     early-stage funding for my company.”

     Kyla Duffy
     BS in Marketing, 2004
     Director, Action Advising, LLC

Sustainable Venturing Initiative                  Sustainable Opportunities Summit                  The prestigious G. Chris Andersen Cash
The Deming Center’s Sustainable Venturing         Hosted jointly by the Deming Center and           Award recognizes the top-placing teams. In
Initiative marries the best of entrepreneurial    CORE, Colorado’s sustainable business             addition, the top-ranked team with a renew-
innovation with cutting-edge strategies that      association, the Sustainable Opportuni-           able energy technology business plan will
lead to a more sustainable world. Through         ties Summit features high-profile keynote         be invited to present its business plan at the
courses, projects, and internships, students      speakers and participants from a wide range       annual National Renewable Energy Labora-
apply their business skills to solve real-world   of industries, including energy, organic food,    tory (NREL) Industry Growth Forum. The
challenges and capture opportunities in new       green building, tourism, and investment.          NREL forum is widely recognized as the
market niches. Whether they’re independent        Speakers discuss the challenges and opportu-      premier investor venue for the renewable
entrepreneurs or “intrapreneurs” working          nities of incorporating sustainability in their   energy industry. Investor’s Circle (IC), angel
within a corporation, our graduates are driv-     sector. The Summit provides an opportunity        investors who support early-stage sustainable
ing new approaches, designing new products,       for business leaders to learn about the latest    companies, circulates the finalist’s executive
and creating solutions to some of the world’s     driving forces and trends, how to address         summary to investors.
most pressing problems.                           marketing and communication challenges,
                                                  and other critical success factors. Students      “http://leeds.colorado.edu/entrep/cleantech”
“http://leeds.colorado.edu/entrep/sustain-        who attend leave with new information, new
ableventuring”                                    ideas, and new connections.                       For all of our effort, we understand that we
                                                                                                    are not the future. You are. You’re the one
Transforming Energy and Markets (TEAM)            “http://www.sosummit.org”                         with ideas and ideals. You have the wisdom
TEAM is the business outreach arm of CU                                                             to build something creative and something
Boulder’s Energy Initiative. Coordinated          Cleantech Venture Challenge                       enduring as well. You can learn from us and
by the Deming Center, TEAM facilitates            This international event is the premier stu-      teach to us at the same time. And together
collaboration between researchers and the         dent competition to highlight emerging op-        we will explore the next generation of entre-
business community. TEAM helps stream-            portunities in the cleantech sector. Student      preneurship: sustainable venturing.
line the process of commercializing new           teams are invited to submit business plans
technologies. TEAM collaborates with              demonstrating venture-grade, for-profit busi-
forward-thinking business leaders who seek        ness models, practices, or technologies with
ingenious new ways to increase productiv-         high-growth potential and providing innova-
ity, expand and improve product lines,            tive solutions, services, or products in the
and capture new markets. TEAM can also            cleantech sector that reduce environmental
help make the business case for new energy        impact or improve ecological sustainability.
strategies and help address market and policy     A minimum of $25,000 in prize money is
challenges. Business students have numerous       awarded to the winning teams.
opportunities for internships, projects, and
networking with companies on the cutting
edge of renewable energy.


                                                  Entrepreneurs—Individuals Making a Difference
                                                  Throughout history, creative individuals have stood at the intersection of opportunity and
                                                  innovation and changed the world. Inventors like Johannes Gutenberg, James Watt, Thomas
                                                  Edison, and Alexander Graham Bell. Information technologists like Steve Jobs and Steve
                                                  Wozniak, Bill Gates, and Michael Dell. Pioneers of the connected world like Meg Whitman of
                                                  e-Bay, Jeff Bezos from Amazon, and Google’s Larry Page and Sergey Brin.

    Sustainable	venturing:	harnessing	the	        These individuals and thousands like them       resources of our planet. Businesses that
    knowledge,	power,	and	passion	of	entrepre-    personify the power of the entrepreneur: a      leverage new technologies to produce prod-
    neurs	to	create	a	new	generation	of	busi-     willingness to learn from the past while de-    ucts that are more energy efficient, lighter,
    nesses	that	strengthen	rather	than	deplete	   fining the future on their terms. The courage   and cheaper to manufacture and operate,
    the	environmental	and	economic	resources	     to be first, but the wisdom to build on the     generating nearly zero waste, zero emissions,
                                                  best of what came before.                       or both. Businesses that choose not to exploit
    of	our	planet.
                                                                                                  the impoverished people of the world, but
                                                  As an organization focused on entrepreneurs,    rather to join others focused on increasing
                                                  we believe in balancing what’s been with        their economic self-sufficiency.
                                                  what lies ahead—operating at the nexus of
                                                  academic research, emerging technologies,       As an organization committed to entrepre-
                                                  and social change. Our students represent a     neurs, we have plenty to offer those in this
                                                  new generation of entrepreneurs, people who     new generation. We share your passion and
                                                  understand the rules that define success in     we are clear about the challenges that you
                                                  traditional terms yet share a deep concern      will face, including the lack of market un-
                                                  about the future of the world around them.      derstanding, the complexity of the underly-
                                                                                                  ing technologies, and the absence of proven
                                                  These entrepreneurs expect to build pros-       business models. That’s why our program
                                                  pering businesses. They’re committed to         combines classroom learning with real-world
                                                  building businesses that strengthen rather      experience, as well as with a network of
                                                  than deplete the environmental and human        involved, innovative entrepreneurs who are
                                                                                                  committed to working with students like
                                                                                                  you to shape the future.

                                    “My team did really well in Frank Moyes’
                                     business plan class, so we took the plan
                                     for Big Clean Trucks on to the business
                                     plan execution course. There’s a huge
                                     difference between developing an idea for
                                     a course and actually turning it into a busi-
                                     ness. Financial projections that were good
                                     enough for class are looked at a whole lot
                                     differently when you’re out asking friends
                                     and family for loans to help you get started.
                                     Talk about a real-world education.”

                                    “As part of the business plan course, I was
                                     assigned to be the voice of the customer.
                                     And interestingly enough, I’ve ended up
                                     playing that same role at Aurora Organic
                                     Dairy. That very small non-graded class-
                                     room exercise really stuck with me. Learn-
                                     ing to think about every decision from the
                                     customer’s perspective makes a huge
                                     difference in how you approach things.”

                                     Sally Keefe
                                     MBA, 2003
                                     Vice President of Supply Chain,
                                     Aurora Organic Dairy

Gary R. Sebek
Executive Vice President and CFO,
Aurora Organic Dairy

     “Second semester of my first year, I was
      taking a business plan class taught by
      Juan Rodriguez (founder of StorageTek
      and Exabyte). My team’s plan was for a
      company that specialized in state-of-the-
      art antennas for wireless communications.
      In the late spring, we entered the business
      plan competition—and won.”

     “The next year, while finishing my MBA,
      I founded Xertex Technologies. The
      company’s initial antenna was based on
      technology that originated at CU. Although
      the first technology we explored didn’t
      work, through our relationship with CU
      we were able to develop something that
      worked and was sellable.”

     “In 2000, we sold Xertex to Centurion Wire-
      less Technologies, Inc. I left Centurion in
      2002 to found Valen Technologies, which
      builds predictive modeling software for
      insurance companies.”

      Dax Craig
      MBA, 1995
      CEO, Valen Technologies

Your invitation to Join Our Club—The Deming Network
The Boulder-Denver area is home to a diverse group of entrepreneurs and start-up resources, and
you’ll be surprised at how many of them you’ll have access to through the Deming Network.
They’ve opted to join the Deming Network because they’re committed to the entrepreneurial life-
style. Continuous learning. Exposure to new ideas. Access to the best and brightest young people.

Think high-tech leaders in storage, software,      Through networking events and affiliations        CU Ph.D. Graduates: Training the
and systems such as Sun Microsystems and           with business organizations, students and         Next Generation of Pioneers
Level 3. Bio- and nanotechnology pioneers,         entrepreneurs have an opportunity to form         The	doctoral	program	in	Strategic,	Orga-
including Lockheed Martin. Pharmaceuti-            mutually beneficial relationships and learn       nizational,	and	Entrepreneurial	Studies	at	
cal companies like Amgen, Pharmion, and            from each other. Entrepreneurs can scout for
                                                                                                     the	Leeds	School	of	Business	emphasizes	
Roche Colorado. Natural and organic product        possible interns and future employees and
                                                                                                     state-of-the-art	research	on	firm	strategy	or	
companies, including Celestial Seasonings,         can personally take part in shaping Colora-
                                                                                                     organizational	science,	particularly	as	it	ap-
Izze Beverage, Organic Vintners, Pharmaca          do’s future entrepreneurial leaders. Students
                                                                                                     plies	to	entrepreneurs	and	entrepreneurship,	
Integrative Pharmacy, and WhiteWave Foods,         supplement their classroom education with
just to name several.                              real-world experience and relationships that      and	encompasses	firm	start-up	processes,	
                                                   expand their personal network and often lead      innovation	management,	and	new	venture	
Networking Events                                  to internships or to placement upon graduation.   development.	Doctoral	students	study	the	
Beyond the classroom, the Deming Center                                                              intersection	of	entrepreneurship	and	strategy,	
provides unparalleled access to entrepre-          Projects in Entrepreneurial Companies             entrepreneurial	decision	making	and	timing,	
neurial practitioners, business and industry       This MBA honors course is for students            self-employment	issues,	social	venturing,	in-
leaders, educators, researchers, alumni,           interested in learning more about entrepre-       ternational	innovation,	and	entrepreneurial	dy-
and opportunities. Networking receptions,          neurial companies. It provides firsthand ex-      namics	at	firm	and	industry	levels.	After	two	
hosted each semester, offer students an easy       perience working alongside executives in an
                                                                                                     years	of	coursework	and	collaboration	with	
way to meet local entrepreneurs who can            entrepreneurial setting and exposes students
                                                                                                     faculty	on	research	projects,	students	are	
provide crucial connections.                       to the multiple facets of entrepreneurship at
                                                                                                     well	prepared	to	develop	dissertations	and	
                                                   an executive level, while integrating MBA
                                                                                                     contribute	their	own	leading-edge	research	to	
                                                   coursework. Students get a view of the busi-
                                                   ness’s key strategic issues and decisions while   top	academic	journals	and	teaching	positions	
                                                   adding value to the company by completing         at	leading	universities.
                                                   a project that draws on the students’ skills
                                                   and experience.

CU Ph.D. Graduates: Training the Next Generation of Pioneers
The doctoral program in Strategic, Organizational, and Entrepreneurial Studies at the Leeds
School of Business is designed to educate scholars for work as faculty members at other top-tier
research-oriented business schools in the United States and around the world.

Sharon Alvarez	       The	Ohio	State	University,	Fisher	College	of	Business
James Barker	         University	of	Waikato,	Waikato	Management	School,	Hamilton,	New	Zealand
Keith Brigham	        Texas	Tech	University,	Rawls	College	of	Business
Don Bergh	            University	of	Denver,	Daniels	College	of	Business
Boyd Cohen	           Simon	Fraser	University,	School	of	Business
Andrew Corbett	       Rensselaer	Polytechnic	Institute,	Lally	School	of	Management	&	Technology
Dawn DeTienne	        Colorado	State	University,	College	of	Business
Joy Godesiabois	      Northeastern	University,	College	of	Business	Administration
Denis Gregoire	       Georgia	State	University,	J.	Mack	Robinson	College	of	Business
Mike Haynie	          Syracuse	University,	Whitman	School	of	Management
Kurt Heppard	         United	States	Air	Force	Academy,	Department	of	Management
Larry Plummer	        Clemson	University,	College	of	Business	and	Behavioral	Science
Gideon D. Markman	 University	of	Georgia,	Terry	College	of	Business
Jeff McMullen	        Baylor	University,	Hankamer	School	of	Business
Michael Meeks	        San	Francisco	State	University,	College	of	Business
Erik Monsen	          Max	Planck	Institute	for	Research	into	Economic	Development	&		
	                     Entrepreneurship,	Jena,	Germany
Heidi Neck	           Babson	College,	Arthur	M.	Blank	Center	for	Entrepreneurship
Terry Noel	           California	State	University-Chico,	College	of	Business
Leon Schjoedt	        Illinois	State	University,	College	of	Business
William Schulze	      University	of	Utah,	David	Eccles	School	of	Business
Theresa Welbourne	    University	of	Michigan,	Ross	School	of	Business
Page West	            Wake	Forest	University,	Calloway	School	of	Business	and	Accountancy
Andrew Zacharakis	    Babson	College,	Arthur	M.	Blank	Center	for	Entrepreneurship

deming@colorado.edu • http://leeds.colorado.edu/entrep • 303-735-5415

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